Discover key GST 2.0 changes effective Oct 1, 2025 — IMS system, ITC claims, credit notes, and new filing rules explained by GST Expert Mandar Borse. GST 2.0 is Here! Major Return Filing Changes Effective from October 1st, 2025 Author: Mandar Borse, Director – TaxMatic Advisory Pvt. Ltd.Published on: October 2025Tags: GST 2.0, GST Return […]
GST 2.0 Reforms: Major Return Filing Changes from Oct 1, 2025 Read More »
Subject: Validity of E-Way Bill and Legal Standing of Penalty Under Section 129 In this case, SunStar Plastotech Pvt Ltd raised e-invoices on May 31, 2023, and generated corresponding E-Way Bills on June 1, 2023. However, due to a vehicle breakdown, the goods movement began only on June 5, and the vehicle was intercepted on
E-Way Bill Expiry and GST Penalty – Case Study on Section 129 Compliance Read More »
Subject: Whether Software Licenses are Goods or Services under GST Law This case study offers a legal opinion on the GST implications for software licenses, specifically whether they should be classified as goods or services, and how this affects GST rates, place of supply, and input tax credit (ITC). Software as Services (SAC 997331/9983): Under
GST Classification of Software Licenses Read More »
Subject: Place of Supply when Goods Delivered on Third Party Instruction This case study explores the GST place of supply when goods are supplied by one party on the direction of a third person — a common scenario under the ‘Bill-to, Ship-to’ model. Martial Motors Pvt. Ltd., registered in Karnataka, received an order from Mahindra
GST Place of Supply in ‘Bill to – Ship to’ Transactions Read More »
Subject: Internal Reference for TaxMatic Knowledge Base This case study explores the GST classification and rate applicability on Fortified Rice and Fortified Rice Kernels (FRK), a critical area for food manufacturers and distributors under the Public Distribution System (PDS) and nutrition schemes like POSHAN Abhiyan and Anemia Mukt Bharat. What is Food Fortification? Fortification involves
GST on Fortified Rice and Fortified Rice Kernels (FRK) Read More »
In this GST case study, TaxMatic provided a detailed opinion on the GST applicability on YouTube income received by CA Rachana Ranade. The income includes payments from Google AdSense for video advertisements and YouTube memberships, credited in convertible foreign exchange. As per Section 2(6) of the IGST Act, a transaction qualifies as “export of services”
GST on YouTube Income – Export of Services Case Study Read More »
In this case study, TaxMatic provided expert GST consultancy to Rachana Ranade & Associates regarding the GST implications on the sale of gift vouchers. Under the GST Act, gift vouchers are treated as a supply when the underlying product or service is identifiable. Since the vouchers were specifically redeemable for courses, the time of supply
GST on Gift Vouchers – Case Study by TaxMatic Read More »
The recent Notification No. 25/2024-Central Tax, issued on October 9, 2024, clarifies TDS rules for metal scrap transactions, highlighting the government’s commitment to enhancing tax compliance in th Summary of Notification: On October 9, 2024, the Ministry of Finance released Notification No. 25/2024-Central Tax, amending Notification No. 50/2018-Central Tax. This update clarifies the Tax Deduction
Comprehensive Guide to Applicability of TDS on Metal Scrap Purchases Read More »
Understanding the GST Council’s Proposal and Its Impact on Commercial Property Rentals In a significant update, the GST Council, during its 54th meeting on 9th September 2024, proposed a new mechanism for applying the Goods and Services Tax (GST) to the renting of commercial properties. This change introduces the Reverse Charge Mechanism (RCM) when an
The Revolution of GSTR 3B Returns is Coming in January 2025. Here’s Why You Should Be Excited (Or Maybe Just Slightly Less Stressed). Have you ever been sitting at your desk, staring at the clock, knowing your GSTR 3B returns are due, but your GSTR 2B and purchase register refuse to reconcile as if they’re
Pre-Filled GST Returns Are Here: No More Sleepless Nights for Accountants! Read More »
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